DEVELOPMENT OF RUSSIAN INNOVATION SYSTEM WITH REGARD TO INTERNATIONAL PRACTICES

The article deals with global and national aspects of innovation economy development. At the current stage, leading economies are implementing an innovation knowledge-based model of economic development. Research has a significant impact on development of production forces, quality parameters of the economic growth of national economies and global economy as a whole due to restricted economic resources and increasing needs. Development of innovation areas can determine the level of competitiveness of national economies and businesses. Long-term isolation of the Russian economy from progressive areas of the world technological development caused significant technology gaps between Russian and foreign companies. It has a negative impact on positions of Russia in the world market of knowledge-intensive products. At present, a share of Russian products in the world volume of knowledge-intensive civilian products is 0.3% which does not correspond to current technological capabilities of Russian businesses. The current economic strategy of Russia aims to develop an innovation economic model based on deep transformation of the economy and transition to intensive economic development. The model helps Russia strengthen its positions in the world market of knowledge intensive products with value added and use its technological capabilities. Development of the innovation economic model will have a positive impact on social relations. It can boost employment, increase income of the population, and develop human resources. (c) 2018 Published by Future Academy www.FutureAcademy.org.UK